Egypt’s CBE extends loan grace period for Sinai tourism investors by one year

CBE Governor Tarek Amer has granted a one-year extension to the grace period for outstanding loans South Sinai tourism investors have received from state-owned banks, according to Ahram Gate. The CBE will also offer EGP 50 mn-worth of loans at reduced interest rates of 5-10% to the investors, who have been burdened in recent years from both a slowdown in tourism activity and a lack of maintenance funds.